 "Enviro Infra Engineers, Udayshivakumar Infra file IPO papers with Sebi")
Two companies -- Enviro Infra Engineers Ltd and Udayshivakumar Infra Ltd -- have filed preliminary papers with capital markets regulator Sebi to raise funds through Initial Public Offerings (IPOs).
With these, the total number of companies filing draft IPO papers with the Securities and Exchange Board of India (Sebi) reached 8 in this month.
The IPO of Enviro Infra Engineers consists of sale of 95 lakh equity shares with no Offer-For-Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP).
Funds raised through the issue will be used to meet the working capital requirements and general corporate purpose.
Enviro Infra Engineers is engaged in designing, construction, operation and maintenance of Water and Wastewater Treatment Plants and Water Supply Scheme Projects for government authorities/bodies.
Going by the draft papers, Udayshivakumar Infra's IPO consists of fresh issue of equity shares aggregating to Rs 60 crore.
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Proceeds of the issue will be used to fund incremental working capital requirements and general corporate purposes.
Udayshivakumar Infra is in the business of construction of roads. It bids for roads, bridges, irrigation and canals industrial area construction in Karnataka, including government departments.
Shares of both the companies will be listed on the BSE and National Stock Exchange (NSE).
According to Prime Database, 14 companies raised Rs 35,456 crore through main-board primary share sales in the first half of the fiscal, down 32 per cent from the year-ago period when 25 issues had mopped up Rs 51,979 crore.